The average price of a sq.m Home of Miyagi JR JR Joban Line, in 2017 was 129,743 JPY/sq.m. The market value represents a decrease of 43,856 JPY (-25.3%) compared to 1 year ago and a transition to a dramatic market. 12 properties exchanged hands ( The market value represents a decrease of 31 (-72.1%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 12.4 years old (a -15.8% decrease compared to the 14.7 years old of last year.). The average size of the real estate was 272.1 sq.m (a -27.1% decrease compared to the 373.0 sq.m of last year.). The average total floor space of the real estate was 155.8 sq.m (a +7.0% increase compared to the 145.6 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively new buildings under 20 years old, as well as a dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station.

Cause of price increases

An decrease in average age of the building (representing 14.7 years old in 2016 and 12.4 years old in 2017; -15.8%)

A dramatic decrease in average distance from the station (representing 28.1 min in 2016 and 21.0 min in 2017; -25.4%)

A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 2.3% of total transactions in 2016 and 8.3% of total transactions in 2017)

An increase in transactions involving recently constructed buildings under 6 years old (representing 7.5% of total transactions in 2016 and 8.3% of total transactions in 2017)

Causes of price decreases

A slight increase in transactions involving relatively old buildings under 40 years old (representing 32.5% of total transactions in 2016 and 33.3% of total transactions in 2017)

The highest Home market value is Iwanuma at 193,939 JPY/sq.m. On the other hand, those with the lowest market value is Sakamoto at 66,666 JPY/sq.m.

In accordance with the aging of buildings, the stations whose values were most likely to decline was the Hamayoshida at -62.0% (The rate of decline after 30 years). On the other hand, market values along the Iwanuma was the most resistant to decline at -33.5% (The same rate).

Data regarding the market value and its changes of Home in JR Joban Line were calculated using data on the sales of 760 properties provided by the MLIT Japan.